Kaohoon’s Top News on February 4, 2021

– PTT Oil and Retail Business Public Company Limited (OR) stated that retail investors had made an oversubscription of more than twice of the availability, pushing the subscription value to 35 billion baht, totaling 530,000 transactions. The final IPO price was Bt18, and the result of the subscription will be announced on February 6, 2021.

Analysts expected OR’s financial advisors, including Bualuang, Finansa, Kbank, Kiatnakin Patra and Tisco, to book a huge amount of income fees in 1Q21 from OR.

– The Mass Rapid Transit Authority of Thailand (MRTA) overthrew the bidding for the “MRT Orange Line” worth 122 billion baht after the court still has yet to decide the petition between BTS. The new bidding could begin in the next month or two. BTS stated that the company has yet to decide whether to participate in the bidding or not and would require to see RFP before making the decision.

TRUE appointed three new executives as co-presidents, namely, Mr. Natwut Amornvivat, Mr. Manat Manavutiveth and Dr. Teeradet Dumrongbhalasitr, effective on February 3, 2021, to oversee the strategic and operational management of the group. The company will step up to become the leading tech company.

PTTGC invested 30-50 billion baht to expand its investment in downstream business in EEC in the next 2-3 years, expecting to further the production and adding value to the company.

– The analyst saw that hotel and airline stocks are waiting for the recovery in response to the “vaccine passport”. AOT, MINT and AAV are expecting to be outstanding. Meanwhile, the Ministry of Tourism gave the order to push for more campaigns to draw foreign travellers into the country, emphasizing no quarantine.

– Retail investors paraded on three big banking stocks; KBANK, SCB and BBL, driven the share prices to close higher yesterday after the MPC maintained policy rate at 0.50%. Kasikorn Research forecast the Bank of Thailand to keep policy rate unchanged throughout 2021, seeing the new outbreak was not as severely as the first one.

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